MV Capital Management Inc. Has $109,000 Stock Position in Phillips 66 (NYSE:PSX)

MV Capital Management Inc. raised its position in Phillips 66 (NYSE:PSX) by 23.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 956 shares of the oil and gas company’s stock after acquiring an additional 181 shares during the period. MV Capital Management Inc.’s holdings in Phillips 66 were worth $109,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSX. Bank of New York Mellon Corp grew its position in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the period. Norges Bank bought a new stake in shares of Phillips 66 during the fourth quarter worth about $497,648,000. Amundi raised its holdings in shares of Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after acquiring an additional 753,653 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Phillips 66 by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock valued at $342,131,000 after purchasing an additional 101,108 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Phillips 66 during the 4th quarter worth approximately $168,790,000. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of analyst reports. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a report on Thursday. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $146.43.

Phillips 66 Stock Down 2.4 %

Shares of NYSE PSX opened at $121.67 on Friday. The firm has a fifty day simple moving average of $124.76 and a two-hundred day simple moving average of $125.52. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $49.60 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the company posted $3.09 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.